Dave and Kathleen,
It's not dry rusty. It is a little bit oily rusty. In other words, it looks like a thin layer of rust underneath a coat of oil (I got it on Ebay). I haven't tried heating it up to cook on yet. I will warm it up, and try scrubbing it down first. If I am not satisfied, I am going to experiment and hit it with the sandblaster.
Not unless the experienced cast iron gods sends me a sign that I shouldn't treat the iron this way.

I just feel better stripping it down to season it myself. For all I know it could be 50 years of stuff on it.
Kevin,
I bidded on a few others, but the prices went beyond by bids, and sure there were much better irons out there. I won this at a reasonable price, and really don't know what to look for. If there is a next time, I will make sure the handles are not made of wood.
My camera LCD broke today, so shootin blind. Didn't get the handles.
